Obsidian Energy Ltd T.OBE

Oct US Oil Production

[JohnJBond]

At the end of each month the EIA published the oil production in the US for the month ending two months earlier.

Today October numbers came out.

Each week the EIA gives their estimate of oil production.

For Jan - Aug, the EIA's estimate was about 250,000 BOE higher than their actual number (released 2 months later).

Something changed in the monthly number starting in September.

Although the weekly number had not changed in any obvious way, the Monthly number in September went from being 250,000 is boe below the weekly estimate, to being about 200,000 over the weekly estimate.

ie the monthly number got boosted by 400,000 is boe.

The October number has just been released, and its also been treated the same way.

Furthermore, the Sept monthly number has been revised up from 12,268,000 boe / day to 12,312,000 ie, Sept got upped another 44,000 boe.

Something is wrong here.

Either the Jan - Aug 2022 monthly oil numbers were wrong, or the Sept and Oct oil numbers are wrong.     I can't see how they can both be correct.

What caused a sudden addition of 400,000 ish boe/day to appear retroactively in Sept and Oct?

We know the Biden team claimed an extra Million jobs in the months leading up to the mid term elections, which we now know didn't exist.

[Hendrick3]

Government statistics are manipulated but reality will have its revenge. Ultimately we will have run outs and a clear recognition that production is flat to down. It will come as a big surprise to people who trust government. Investing these days is optimal for those who are very skeptical of government narratives. The elephant in the room is underinvestment in oil and gas while demand grows